Econostrum | Economic News in the Mediterranean



European Commission proposes €684 million in financial support for the earthquake in Croatia

The earthquake caused a lot of material damage in Zagreb (Photo: Croatian Ministry of Defence)
The earthquake caused a lot of material damage in Zagreb (Photo: Croatian Ministry of Defence)
CROATIA. On Sunday 22 March 2020 at 5.24 am, an earthquake of magnitude 5.4 struck Zagreb and its surroundings. The strongest tremor felt in 140 years in the Croatian capital, this earthquake and its seven aftershocks of different intensities had caused enormous damage in the old quarters of the city. The Parliament and the Cathedral were severely affected. The death of a 15-year-old teenager, buried under the rubble of a building, was also to be deplored.

On Friday 9 October 2020, the European Commission proposed to release €683.7 million "to help Croatia cope with the devastating effects of the earthquake", as stated in a press release.
A first instalment of €88.9 million has already been paid in August 2020 in the form of an advance.

Coming from the EU Solidarity Fund (EUSF), this sum represents the major part of a global envelope of €823 million, the funds of which will also go to Poland (€7 million for reconstruction after floods in the Podkarpackie voivodship in June 2020), Greece, Spain, Croatia, Portugal, Ireland, Germany and Hungary (€132.7 million on aid to combat the Covid-19 and its effects). It has yet to be approved by the European Parliament and the European Council.

Eric Apim

Monday, October 12th 2020

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